WASHINGTON – U.S. Senator Kevin Cramer (R-ND) and Senator John Kennedy (R-LA), Senate Banking Committee members, this week reintroduced the No Red and Blue Banks Act, a bill to prohibit the federal government from entering into contracts with banks that discriminate against lawful businesses based solely on social policy considerations. The senators introduced this bill last Congress as well.
“Banks should not be the arbiters of constitutionality,” said Senator Cramer.“Our legislation would ensure financial institutions cannot do business with the federal government if they do not respect the constitutional rights of their customers.”
Senator Cramer has been working to address discriminatory behavior by large financial institutions. He is leading the Fair Access to Banking Act, a bill backed by over 30 senators and a wide array of stakeholders, which would prevent financial service providers from discriminating against constitutionally-protected industries and law-abiding, credit worthy businesses. The senator pressed these issues during a Senate Banking Committee hearing his week with the CEOs of six major U.S. banks, five of whom Senator Cramer spoke with personally. Learn more here.